ARMM Consumer Price Index (As of December 2017)
Consumer Price Index
Survey of Retail Prices of Commodities conducted by the Philippine Statistics Authority (PSA) have generated a Consumer Price Index (CPI) of 172.2, as of December 2017 using 2006 as the base year. This implies that the cost of a basket of goods and services commonly purchased by a typical Filipino household in ARMM was at an average of Php172.2, as of December 2017. This is 5.32 percent higher than in December 2016 with CPI = 163.5 and 0.29 percent higher than in November 2017 with CPI = 171.2.
|Food and Non-Alcoholic Beverages||197.8||185.0||197.1||184.3|
|Alcoholic Beverages and Tobacco||207.0||193.4||205.6||192.4|
|Clothing and Footwear||137.5||134.5||137.3||130.4|
|Housing, Water, Electricity, Gas, and Other Fuels||135.1||130.6||134.7||130.4|
|Furnishing, Household Equipment and Routine Maintenance of the House||134.7||132.4||134.5||132.3|
|Recreation and Culture||136.8||134.3||136.6||134.2|
|Restaurant and Miscellaneous Goods and Services||148.2||144.5||147.7||144.4|
Commodities under the groups of Alcoholic Beverages and Tobacco, Food and Non-Alcoholic Beverages and Education had the highest corresponding CPIs of 207.0, 197.8 and 172.1 in December 2017. These three commodity groups had CPIs higher than the total average CPI of all items in the region. On the other hand, Communication with CPI = 99.7, Transport with CPI = 117.4 and Housing and Power commodities with CPI = 134.7 had the lowest CPIs during the same period.
The year-on-year headline inflation rate in ARMM was at 5.32 percent in December 2017. This implies that the average price of basket of goods and services in ARMM increased by 5.32 percent between December 2016 and December 2017. Moreover, average price of basket of goods and services in the region increased by 0.29 percent in December 2017 compared to the average price in the previous month.
Commodity groups of Alcoholic Beverages and Tobacco, Food and Non-Alcoholic Beverages and Housing and Power Commodities have shown the most volatile annual prices in December 2017 with the inflation rates of 7.03 percent, 6.92 percent and 3.45 percent, respectively. The Food and Non-Alcoholic Beverages, Alcoholic Beverages and Tobacco, and Miscellaneous had the most rapidly changing average prices between December 2017 and November 2017 with inflation rates of 0.68 percent, 0.36 percent and 0.34 percent, respectively.
|Food and Non-Alcoholic Beverages||6.92||6.95||0.36||1.23|
|Alcoholic Beverages and Tobacco||7.03||6.86||0.68||0.73|
|Clothing and Footwear||2.23||2.16||0.15||0.29|
|Housing, Water, Electricity, Gas, and Other Fuels||3.45||3.30||0.30||0.22|
|Furnishing, Household Equipment and Routine Maintenance of the House||1.74||1.66||0.15||0.07|
|Recreation and Culture||1.86||1.79||0.15||0.07|
|Restaurant and Miscellaneous Goods and Services||2.56||2.29||0.34||0.14|
Purchasing Power of Peso
Purchasing Power of Peso (PPP) is inversely related to inflation rate. Thus, as the inflation rate increases, PPP declines. In ARMM, PPP decreased by 3.13 percent in 2016 and has been decreasing at an average rate of 5.24 percent annually between 1996 and 2016.
The PPP in 2016 was 0.62. This implies that the Php1.00 in 2006, as the base year, values only Php0.62 in 2016 and was worth Php1.83 in 1996.